626,057 Shares of The Descartes Systems Group Inc. $DSGX Acquired by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd acquired 626,057 shares of The Descartes Systems Group in the third quarter, worth approximately $50.8 million and representing about 0.73% of the company. Institutional investors collectively own 77.73% of DSGX.
• Analysts maintain a generally bullish outlook, with the stock holding a consensus “Moderate Buy” rating and an average price target of $100.33. Recent targets range from $90 to $125.
• DSGX shares rose 3.7% to $88.54, while the company’s latest quarter showed 11.8% year-over-year revenue growth; earnings of $0.57 per share matched estimates and revenue slightly exceeded forecasts.

Ninety One UK Ltd purchased a new stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 626,057 shares of the technology company's stock, valued at approximately $50,764,000. Ninety One UK Ltd owned about 0.73% of The Descartes Systems Group as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Montrusco Bolton Investments Inc. bought a new position in shares of The Descartes Systems Group during the third quarter worth $20,636,000. Avior Wealth Management LLC purchased a new position in The Descartes Systems Group during the third quarter valued at $243,000. GAMMA Investing LLC purchased a new position in The Descartes Systems Group during the third quarter valued at $122,000. Moody National Bank Trust Division purchased a new position in The Descartes Systems Group during the third quarter valued at $874,000. Finally, Versant Capital Management Inc increased its holdings in The Descartes Systems Group by 9.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,467 shares of the technology company's stock valued at $119,000 after acquiring an additional 129 shares during the last quarter. Institutional investors own 77.73% of the company's stock.

Analyst Ratings Changes

DSGX has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of The Descartes Systems Group from $82.00 to $90.00 and gave the stock a "market perform" rating in a research note on Tuesday. Scotiabank increased their price objective on shares of The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a report on Friday, September 11th. Loop Capital restated a "buy" rating and set a $96.00 price objective on shares of The Descartes Systems Group in a research report on Thursday, October 8th. Scotia raised their price objective on The Descartes Systems Group from $95.00 to $98.00 and gave the company a "sector outperform" rating in a research report on Friday, September 11th. Finally, Royal Bank Of Canada set a $125.00 target price on The Descartes Systems Group and gave the stock an "outperform" rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.33.

The Descartes Systems Group Stock Up 3.7%

DSGX traded up $3.20 on Thursday, hitting $88.54. The company had a trading volume of 394,416 shares, compared to its average volume of 615,542. The business's fifty day simple moving average is $79.08 and its 200 day simple moving average is $74.30. The Descartes Systems Group Inc. has a 12-month low of $62.56 and a 12-month high of $97.71. The company has a market cap of $7.57 billion, a PE ratio of 41.35 and a beta of 0.65.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last issued its quarterly earnings data on Thursday, September 10th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.57. The business had revenue of $198.12 million for the quarter, compared to the consensus estimate of $197.54 million. The Descartes Systems Group had a return on equity of 11.66% and a net margin of 24.25%. The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. On average, analysts anticipate that The Descartes Systems Group Inc. will post 2.37 earnings per share for the current fiscal year.

About The Descartes Systems Group

The Descartes Systems Group Inc is a Canadian technology company that provides cloud-based logistics and supply chain management solutions. Its Global Logistics Network connects manufacturers, retailers, distributors, logistics service providers, carriers, and other trading partners to support the exchange of information and the coordination of shipments.

The company's products and services address a range of transportation and trade-management needs, including transportation management, route planning and optimization, delivery and last-mile management, shipment visibility, freight forwarding, customs and regulatory compliance, electronic data interchange, and telematics.

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